06/09/2011 04:12 pm ET Updated Aug 09, 2011

Giving Pledge Prompts Over 60 U.S. Foundations To Direct More Grant Money To Needy

The Giving Pledge has inspired yet another pledge for big donors: Today more than 60 of the country's foundations have signed Philanthropy's Promise, a pledge to channel a majority of their grant money to needy people as well as to advocacy efforts and projects that encourage citizens to get involved in their communities.

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